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Strong Buyer Activity for Melbourne Last Year

By Jamil Allouche

Sellers of property in Brunswick will welcome predictions for Melbourne's property market this year, on the back of a successful 2013.

The housing market in Melbourne saw a "solid year of buyer activity" last year, according to a report produced by the Australian Property Monitors in January.

There was significant growth recorded in most suburban areas and price sections, with market activity expected to "remain solid" across Melbourne heading into autumn.

Furthermore, there was growth across multiple buyer types, demonstrating that first time home owners, second home buyers and investors were all keen on a slice of the property pie.

Auction clearance rates sat at 66 per cent during December 2013, while properties spent less than three months on the market, at an average of 77 days, for the same time period.

Australian Property Monitors have forecast where Melbourne's property market will head this year, which will be of interest to those with real estate in Brunswick, Carlton and the surrounding areas.

Buyer activity is expected to "moderate" throughout the year. However, house prices are expected to rise by 3 to 5 per cent, which is favourable for existing homeowners in the area.

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